Meyer Handelman Co. reduced its position in McDonald's Co. (NYSE:MCD) by 34.3% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 126,058 shares of the fast-food giant’s stock after selling 65,906 shares during the quarter. Meyer Handelman Co.’s holdings in McDonald's were worth $19,751,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently made changes to their positions in MCD. Phocas Financial Corp. acquired a new position in shares of McDonald's during the 2nd quarter worth $107,000. Proficio Capital Partners LLC grew its stake in shares of McDonald's by 0.7% during the 2nd quarter. Proficio Capital Partners LLC now owns 745 shares of the fast-food giant’s stock worth $117,000 after purchasing an additional 5 shares during the period. Howe & Rusling Inc. grew its stake in shares of McDonald's by 75.0% during the 3rd quarter. Howe & Rusling Inc. now owns 840 shares of the fast-food giant’s stock worth $132,000 after purchasing an additional 360 shares during the period. Acrospire Investment Management LLC acquired a new position in shares of McDonald's during the 2nd quarter worth $153,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of McDonald's during the 2nd quarter worth $162,000. 67.27% of the stock is currently owned by institutional investors.
A number of research firms have recently weighed in on MCD. Royal Bank of Canada set a $190.00 price target on shares of McDonald's and gave the stock a “buy” rating in a research note on Wednesday. Nomura set a $183.00 price objective on shares of McDonald's and gave the stock a “buy” rating in a research report on Tuesday, October 17th. Longbow Research upgraded shares of McDonald's from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $154.05 to $183.00 in a research report on Thursday, September 28th. Telsey Advisory Group reiterated an “outperform” rating and issued a $180.00 price objective (up from $170.00) on shares of McDonald's in a research report on Monday, October 2nd. Finally, Barclays set a $182.00 price objective on shares of McDonald's and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Ten analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. McDonald's has a consensus rating of “Buy” and a consensus target price of $175.62.
McDonald's Co. (MCD) opened at $171.29 on Wednesday. The stock has a market cap of $136,653.56, a PE ratio of 24.72, a price-to-earnings-growth ratio of 2.80 and a beta of 0.67. The company has a quick ratio of 1.27, a current ratio of 1.28 and a debt-to-equity ratio of -8.17. McDonald's Co. has a 1-year low of $118.18 and a 1-year high of $175.78.
McDonald's (NYSE:MCD) last released its earnings results on Tuesday, October 24th. The fast-food giant reported $1.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.75 by $0.01. The company had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.75 billion. McDonald's had a net margin of 24.19% and a negative return on equity of 216.45%. The firm’s quarterly revenue was down 10.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.62 EPS. equities research analysts predict that McDonald's Co. will post 6.53 earnings per share for the current year.
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McDonald’s Corporation (McDonald’s) operates and franchises McDonald’s restaurants. The Company’s restaurants serve a locally relevant menu of food and drinks sold at various price points in over 100 countries. The Company’s segments include U.S., International Lead Markets, High Growth Markets, and Foundational Markets and Corporate.
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